Mexican Hotelier Prices IPO

Jun 14, 2013

Mexico’s Hoteles City has priced a MXP2.92bn ($231m) IPO, landing at the bottom of its price range though offering a sign that equity deals can still get done despite the selloffs seen in recent weeks. The Mexican hotel operator is selling 87.0m primary and 34.5m secondary shares at MXP24.00 each, according to people following the sale. The level comes versus a MXP24.00-MXP29.00 price range. The total assumes the use of a 15%...